Titan Fitness (Titan) announced today that it has secured private equity backing and has become one of the largest franchise owners of Gold’s Gym locations in the United States.
The investment was led by WestView Capital Partners (WestView), a $200 million private equity fund based in Boston, Mass., and included participation by National City Equity Partners, a Cleveland, Ohio-based private equity fund and WestView fund investor with more than $1 billion of capital under management.
“Through our partnership with WestView, my partners and I will be able to achieve our long-term growth objectives as Gold’s Gym franchisees,” said Jeff Skeen, President and CEO of Titan Fitness.
It is an exciting time for our company as the only Gold’s Gym franchisee supported by institutional private equity. Now, we are well positioned to purchase and build health club chains to accomplish and hopefully exceed our plan.”
In conjunction with the financing, Titan has acquired 14 fitness clubs in North Carolina and Minnesota and expects to grow its Gold’s Gym portfolio to more than 60 open locations nationwide during the next five years.
Titan Fitness Gets Funded · Fitness on January 24th, 2008 at 11:48 am
[...] exolis wrote an interesting post today onHere’s a quick excerptTitan Fitness (Titan) announced today that it has secured private equity backing and has become one of the largest franchise owners of Gold’s Gym locations in the United States. The investment was led by WestView Capital Partners … [...]
Titan Fitness Gets Funded on January 24th, 2008 at 11:51 am
[...] Fitness Gets Funded exolis wrote an interesting post today onHere’s a quick excerptTitan Fitness (Titan) announced today [...]